Insurance technology, now known more widely as Insurtech, has the potential to bring significant efficiency & disruption to reinsurance, ILS & risk transfer markets.
Insurtech a hot trend with everyone from traditional reinsurance incumbents, as they seek to improve efficiency and stay ahead of the game, to brokers who are seeking to avoid disintermediation, to insurance-linked securities (ILS) players who see it as a way to enhance the efficiency of their capital even further.
The potential for Insurtech and Fintech initiatives to bring efficient capital, such as ILS capital and alternative reinsurance capital from third-party investors, more directly into contact with risk is huge. The opportunities to use technology to shorten and optimise the chain from original risk, to insurance, to reinsurance, to retrocession (or final capital source), will create winners and losers in the market, making this a trend to watch closely.
Vesttoo, the insurance-linked securities (ILS) focused insurtech company, has announced another significant hire, bringing on more reinsurance and ILS market expertise in the form of Julia Henderson, who joins the company as its Chief Commercial Officer (CCO).
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HSCM Bermuda, the reinsurance and ILS related investment arm of Hudson Structured Capital Management Ltd., has announced two promotions to senior positions within its team.
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Hillridge Technology Pty Ltd, an Australian software technology company that aims to help users address the climate protection gap through parametric insurance, has raised a $2.3 million seed round and now seeks to expand further into Asia Pacific.
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Reask, a catastrophe modelling, climate analytics and data company that uses machine learning techniques and artificial intelligence, has announced the hire of former Twelve Capital executive Jamie Rodney as its new CEO, adding significant reinsurance capital and ILS market experience.
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Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance business, has partnered with Singapore based insurer Singlife with Aviva to provide it a parametric rainfall insurance product for travellers.
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Insurance-linked securities (ILS) focused insurtech company Vesttoo has hired its first Head of Underwriting, selecting a respected executive from its local market in Israel to fill the role.
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A collateralized insurer class of company has now officially been registered in Bermuda, with Vesttoo Alpha P&C Ltd. set to play a pivotal role in the companies platform and offering of P&C insurance returns to investors.
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Vesttoo and fronting specialist Clear Blue have announced a partnership today, with the former intending to deploy as much as $1 billion of capacity from the capital markets through Clear Blue’s property and casualty (P&C) programs over the next year.
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Technology-led underwriter of parametric risk transfer, climate and weather insurance business, Arbol, has today reported that it transacted more than $100 million in gross written premium (GWP) in the first half of 2022.
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Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has launched a new office in Germany as it looks to expand its parametric coverage across the DACH region.
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